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How to beat debt with an IVA

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beat debt with an iva

Some people are unsure how an Individual Voluntary Arrangement (IVA) could help make their living costs affordable when it only agrees payment reductions to their unsecured debts. They might also be sceptical as to why lenders would agree to a debt solution where they only get back a proportion of what’s owed, and concerned that they will have to sell ‘assets’ such as a home, car or other valuable possessions to put towards their IVA.  Above all, there is a lot of suspicion surrounding the claim that an IVA can help you beat debt by writing off a proportion of [...] Read more »

What is an IVA – Will it Keep Me Afloat?

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What is an IVA ? and what are the benefits Many people ask me the question what is an IVA , The term IVA is short for (Individual Voluntary Arrangement) which is is a debt arrangement scheme for people who have a mountain of debt that they are not able to repay. Debt-ridden folks opt for an IVA instead of declaring bankruptcy, because bankruptcy severely and legally compromises their assets. The borrower (or, debtor) enters into an agreement with his lenders (or, creditors) and agrees to keep making reduced payments against his debt for a fixed-term. An IVA debt arrangement [...] Read more »

Offer Your Creditors A Full and Final Settlement

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Which means that each creditor receives a fair share of the income you have available. The collector you owe the most in order to will get the biggest talk about of the money along with the creditor you owe the smallest amount of to will get the littlest share. Following on from my post regard doing an IVA to settle your debts with your creditors so that you could avoid going bankrupt. It is also possible that you could do a deal with your creditors of your own bat, meaning that you approach your creditors and ask them if they would [...] Read more »

Should You Consider an IVA

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I have mentioned in a previous post about the DRO or Debt Relief Order for those people who have debts less than £15000, and who don’t have any substantial assets such as a house or savings. These have been available since April 2009 and can only be sought through an approved source such as the Citizens Advice Bureau. Now let us look at the I.V.A or Individual Voluntary Arrangement, on first sight of this arrangement it looks as if it could be your savior as it can be the last resort before bankruptcy, however it should be looked at with [...] Read more »

Going Bankrupt A Last Resort

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In these days of marked austerity it seems that the whole world has lost it’s way, more and more people are finding it necessary to take a long hard look at the way they are living their lives, and as a result they are looking at going bankrupt. Gone are the days where you could mortgage your house at the drop of a hat, or change your car using financing methods that defied sensibility. Over the next few weeks it is my intention to take you through my life and how I broke free from the jaws of the inland [...] Read more »